Frbiz reports electric cars to drive great power market

Frbiz, a Chinese B2B search platform, has learned from the State Electricity Regulatory Commission that in October, China will formally implement three electric car battery facility standards, while another five standards are also being formulated. In preparation for electric car power market, transmission providers will strengthen the power industry upgrade, and speed up the construction of intelligent power and electric car charging facilities.

Frbiz forecasts that a power demand for about 49 billion RMB will be added, if electric car sales reach 2 million units. Frbiz analyzes that the electric car is closely related with the electric power industry, as large-scale use of electric cars will open a new power market. As research data displays, in 2020, there will be 50 million electric cars, while energy consumption will reach 200 billion KWH. In 2030, when electric cars are expected to increase to 200 million units, the annual energy consumption will reach 800 billion KWH.

Frbiz analyzes that under the condition of large-scale use of electric cars, power consumption accounting for terminal energy consumption proportion would be an important index to measure a country’s capacity in energy conservation and emission reduction. Research shows that if the proportion of power in the terminal energy consumption increases one percent, the total energy consumption will drop four percent. At present, electricity consumption accounting for terminal energy consumption proportion in developed countries is obviously higher than in China.